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Originally Posted by mariab
Liv....there is some sort of "loan" that you can take from your own retirement account to buy property as long as you are not living in it full time. I am not sure of all the details so you would have to talk to your financial person...but it seemed to be a good deal. That way you don't have to pay anyone back...you can pay cash for the house....and get rent for it. Again talk to your financial person....
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(I don't know what happened to my post, but I'll answer again)....I spoke to my adviser who Strongly advised against it. He said every client he knows of who's tried it runs into yearly IRS audits. It's legal and can be done but it raises red flags at the IRS and it isn't worth the trouble. I agreed and will steer clear.